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How to Open a Live Indices Account - Step by Step Procedure

To start a Live Indices Account, visit a broker's website and open one. Once you're on the website of the Indices broker you've chosen and select this option, you'll need to fill out some online forms: this lesson explains how to fill them out step by step.

With this online account you can trade the following: Index, Gold, Silver, Oil, CFDs, Futures and Indices.

Step by Step Procedure of How Do You Open an Online Indices Account?

To open this live Indices account, one has to fill some online forms provided by a Indices broker. The account sign up online form can be obtained and gotten from your online currency broker.

When you sign up for a real account for Indices, the broker will ask you to send in these documents to go with your application:

What Documents Are Needed To Sign Up An Online Index Account?

1. Proof of ID - Colour copy of Identity card or Passport - A colour copy of valid passport document or any other official ID document issued by authorities (e.g. Driver's license, identity card, etc). The identification document must contain the client's full name, an issue or expiry date, client's place and date of birth or tax identification number and the client's signature.

A recent utility bill (e.g., gas, water, electricity, phone, oil, internet, pay TV connection, or bank statement) dated within six months validating your residential address constitutes proof of residence.

You can use your phone to take pictures of these documents and upload them directly from your phone (which works best). Or, you can use a digital camera, put the pictures on your computer, and then upload the saved files to your trading account.

Look for the 'Upload Documents' option to submit files. Note that your account stays unverified until you upload all required supporting docs.

Why is a Copy of Identity Card & Utility Bill with My Names Needed?

These documents are required by your online broker to safe-guard against any money laundry. AML, or Anti Money Laundry Rule require that all brokers ask proof of Identity & Residence Address with your full name so as to verify that you're a resident citizen of the country you say you're from and also a Utility Bill which shows your exact address of where you reside, that way you can't come up with some fake identity or some fake residency address to use for money laundering.

All brokers dealing with regulated Indices must comply with this stipulation before establishing a trading account for any new client.

Now once you've scanned or taken pictures of these Indices account opening forms:

2. Proof of ID - Color copy of an ID card or passport.

3. Verification of Domicile - A color photocopy of a utility statement, power bill, etc. (this document must be recently dated, within the past three months).

Upload the forms mentioned above along with the colored copies of the documents listed above: you could also use your phone to snap colored pictures of these papers: then, get the pictures from your phone onto your computer and send these pictures from your computer.

Your currency broker reviews your index account forms and documents. They process it fast. You get a login ID and password for the live index account.

Once you upload these docs your account then will be validated. Your sign in details will be sent to your email address. An illustration of a validated account is displayed:

This is K.Y.C - Know Your Client, more of a legal must-do than just a formality: your online broker must follow this rule and try their best to know who their client is, to protect against any money laundering.

You can then use your credentials to log into your MetaTrader 4 platform and start trading on this validated account. You also can use the same sign in details to sign in to your client cabin on the Indices broker website. On the client cabin you can deposit money, withdraw money and view reports of your broker account.

Step by Step Procedure of How to Open an Online Indices Account

To open an account, just fill out some online forms from your indices broker. You'll find the sign-up form on your broker's website.

When signing up for a real Indices account, the broker will also ask you to upload the following papers for proof:

What Documents Are Needed To Sign Up An Online Indices Account?

1. Proof of ID - Colour copy of ID card or Passport - A color copy of a current passport or some other official form of Identity issued by the government (e.g. Driver's license, identity card, etc). The identification document must include the client's full name, a date of issue or expiration, the client's place and date of birth or tax identification number, and the client's signature.

2. Proof of residence needs a recent utility bill. Think gas, water, power, phone, oil, internet, or pay TV. Or a bank statement from the last six months. It must show your address.

You can use your phone to photograph these documents and then directly upload them from your phone, which is the easiest way. You could also use a digital camera, save the photos to your computer, and then upload the saved documents to your account.

To Find where to upload these documents look for the option 'Upload Docs'. Please note after signing up your account it'll not get validated until you have completed uploading these accompanying docs.

Note that without uploading these documents, your account won't get validated or verified. Upload them now to validate your account. Over half of new traders fail to open accounts because they skip the needed files. Upload everything right, and your account verifies fast. You can trade in just five minutes. Snap color photos of the two documents on your phone. Then upload them straight to your broker's site via mobile browser.

Why is a Copy of Identity Card & Utility Bill with My Names Needed?

These documents are required by your online broker to safeguard against any money laundry. AML, or Anti Money Laundry Rule require that all brokers ask proof of ID and Residence Address with your full names so as to certify that you're a resident citizen of the country you say you're from & also a Utility Bill which shows your exact address of where you reside, that way you can not come up with some fake identity or fake residency address to use for money laundering.

All regulated Indices brokers must comply and adhere with this requirement before opening a trading account for a new customer.

After submitting online account opening forms along with required documents to your broker, your application will be processed. Subsequently, you'll receive login credentials for your live indices trading account.

Once the up-loaded documents are validated by your online broker - your account then will be validated. Your sign in details will be sent to your email address. An illustration of a validated account is displayed below:

KYC means Know Your Client. Brokers treat it as a key legal step, not just a form. They must learn about clients to stop money laundering.

Use your login details to enter the MT4 platform and trade on this verified account. The same details work for your client area on the index broker's site. There, you can add funds, take out money, and check account reports.

  1. Australia ASX200

    Symbol - AUS200Cash

    Pip(1 Point) - 0.1

    Pips Size - AUD 0.1

    Margin Per 1 Contract - AUD 70

  2. EU EURO STOXX

    Symbol - EU 50Cash

    Pip(1 Point) - 0.1

    Pips Size - EUR 0.1

    Margin Per Contract - EUR 40

  3. France CAC40

    Symbol - FRA40Cash

    Pip(1 Point) - 0.1

    Pips Size - EUR 0.1

    Margin Per Contract - EUR 40

  4. Germany DAX30

    Symbol - GER 30Cash

    Pip(1 Point) - 0.1

    Pips Size - EUR 0.1

    Margin Per Contract - EUR 85

  5. Hong Kong HangSeng 50

    Symbol - HK 50Cash

    Pip(1 Point) - 1

    Pips Size - HKD 1

    Margin Per Contract - HKD 450

  6. Italy FTSEMIB40

    Symbol - IT40Cash

    Pip(1 Point) - 1

    Pips Size - EUR 1

    Margin Per 1 Contract - EUR 250

  7. Japan Nikkei225

    Symbol - JP 225Cash

    Pip(1 Point) - 1

    Pips Size - JPY 1

    Margin Per 1 Contract - JPY 90

  8. Netherlands AEX25

    Symbol - NETH25Cash

    Pip(1 Point) - 0.1

    Pips Size - EUR 0.1

    Margin Per Contract - EUR 5

  9. Spain IBEX-35

    Symbol - SPAIN 35Cash

    Pip(1 Point) - 1

    Pips Size - EUR 1

    Margin Per 1 Contract - EUR 140

  10. Switzerland SMI 20

    Symbol - SWI20Cash

    Pip(1 Point) - 0.5

    Pips Size - CHF 0.5

    Margin Per Contract - CHF 100

  11. UK FTSE 100

    Symbol - UK100Cash

    Pip(1 Point) - 0.1

    Pips Value - GBP 0.1

    Margin Per Contract - GBP 70

  12. USA S&5 500

    Symbol - USA 100Cash

    Pip(1 Point) - 0.1

    Pips Size - $0.1 dollars

    Margin Per Lot - $30

  13. USA NASDAQ 100

    Symbol - USA 30Cash

    Pip(1 Point) - 0.5

    Pips Size - $ 0.5

    Margin Per Lot - $150 dollars

  14. USA DowJones30

    Symbol - US 500Cash

    Pip(1 Point) - 0.1

    Pips Size - $0.1

    Margin Per Lot - $12

Market Hours

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MT4 Server time - GMT +2 (All Times Below are GMT +2)

INDICES InstrumentMonday OpenFriday Close
Australia 2001:0522:55
EU Stocks 509:0522:55
France 401:0523:00
Germany 301:0523:00
Hong Kong 503:2017:40
Italy 4010:0518:35
Japan 2251:0523:55
Netherlands 251:0523:10
Spain 3510:0520:55
Switzerland 209:0522:55
UK 1001:0523:10
US5001:0523:55
USA Tec 1001:0523:55
WallStreet301:0523:55

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